E&O Insurance for Real Estate Brokers & Owners

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The following twelve (12) states require real estate licensees to purchase errors & omissions insurance in accordance with the state’s specific regulations: Colorado, Iowa, Idaho, Kentucky, Louisiana, Mississippi, North Dakota, Nebraska, New Mexico, Rhode Island, South Dakota and Tennessee. Please refer to your state’s real estate commission for their specific regulations.

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Top Insurer*

Rated A (excellent) XV ($2 billion or greater) by A.M. Best Non‐Admitted (Surplus Lines Tax applicable)

No Hidden Fees

No fine-print fees, or bait and switch tactics

Coverage Details

Carrier Highlights

Liberty Surplus Insurance Corporation

*Operating as a subsidiary of Liberty Mutual Insurance Company

Rated A (excellent) XV ($2 billion or greater) by A.M. Best

Non‐Admitted (Surplus Lines Tax applicable)

National Real Estate Professional Liability Insurance Program

Available in all states.

Policy Highlights

Limits:

$1,000,000 per claim / $1,000,000 aggregate
Including Damages and Claims Expenses

Deductible:

$2,500 Including Damages and Claims Expenses

Professional Services Include:

“Professional Services” means the following services which are provided by the Named Insured Member to a third party for a monetary fee; or as otherwise defined by endorsement to this Policy:

  1. Services as a real estate agent, real estate broker or real estate personal assistant for residential real estate sales (1‐4 Units), commercial real estate sales (includes 5+ Units), residential or commercial real estate leasing services, and raw, vacant or partially developed land sales only;
  2. Services as a real estate consultant or counselor or as an expert witness, provided that such services are limited to the services specified in (1) above;
  3. For an additional premium as shown on the Named Insured Member Declarations, services as a real estate property manager for residential and commercial property;
  4. Services as a member of a real estate accreditation, standards review or similar real estate board or committee;
  5. Services as a notary public. Property Management Services: Coverage for an Additional Premium. (Property Management Option must be selected before binding coverage)

Coverage Highlights

Discrimination Coverage:

Coverage for Damages and/or Claims Expenses resulting from any Claim made against an Insured based on or arising from discrimination on the basis of age, sex, gender, military service, race, creed, color, religion, handicap, disability or health condition, marital status, national origin, or sexual preference.

Indemnity and Defense included up to Policy Limits of $1,000,000. Coverage includes Fair‐Housing Act Violations. Coverage included via endorsement.

Lockbox and Megan’s Law Coverage:

Coverage for Bodily Injury and/or Property Damage caused by any third party, arising out of the use and operation of a lock box placed by the Insured to control access to residential real property. Coverage for Bodily Injury and/or Property Damage for the Insured’s failure to disclose deaths or traumatic events that occurred at a residential real property.

Diminished Value of Property from Bodily Injury and/or Property Damage up to Policy Limits of $1,000,000. Coverage included via endorsement.

Pollution / Mold Coverage:

Coverage for Claims arising from the diminished value of 1‐4 unit residential properties for the Insured’s failure to disclose Pollutants.

Diminished Value up to Policy Limits of $1,000,000. Coverage included via endorsement.

Owned Property Coverage:

Coverage for Claims involving only the sale (not purchase) of a 1 to 4 unit residential property in which any Insured has or will have a financial interest in.

Up to Policy Limits of $1,000,000. Specific requirements must be met. Coverage included via endorsement.

Contingent Liability Coverage:

Coverage for Claims brought against any Insured for Damages because of bodily injury or property damage that: (a) is not or would not be covered by a standard general liability coverage form; and (b) caused by a Wrongful Act solely in the rendering or failing to render Professional Services to which this insurance applies. Coverage otherwise known as “Open House” liability.

Up to $100,000 for Damages and up to $100,000 for Claims Expenses. Coverage included via endorsement.

Subpoena Assistance Coverage:

Reimbursement to the Insured for reasonable attorney’s fees incurred in responding to a subpoena.

Maximum of $10,000 per subpoena. Supplemental Payment not subject to the Deductible.

First Party Cyber Liability:

Reimbursement to the Named Insured for costs incurred of hiring a third party consultant or advisor approved by the Company to mitigate the potential for Claims arising from a Security Breach, which results in the loss or theft of Confidential Information that was gathered in the course of rendering Professional Services. Such reimbursement shall include the costs of client notification to effect compliance with a Security Breach Notice Law, provided that the Company will have the right but not the duty to conduct client notification before reimbursing costs.

Maximum of $25,000 per Policy Period. Supplemental Payment not subject to the Deductible.

Additional Insured Franchisors Coverage:

Coverage for grantors of franchise, including any regional grantors of franchise, and their partners, officers, directors and employees, but only as respects their liability for Wrongful Acts committed by an Insured.

Included in the Definition of an “Insured”.

Prior Acts / Retroactive Coverage:

Coverage for Claims resulting from Wrongful Acts committed by the Insured on or after the Retroactive Date.

Coverage is afforded with proof of first date of continuous errors & omissions insurance.


Please Note: Please refer to the actual policy for coverage intent.

Liberty International Underwriters is the marketing name for the broker–distributed specialty lines business operations of Liberty Mutual Insurance. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds. This literature is a summary only and does not include all terms, conditions, or exclusions of the coverage described. Please refer to the actual policy issued for complete details of coverage and exclusions.

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